Buhari Government Increases Petrol Price After Months of Denying They Won’t

After months of denying that they will not remove fuel subsidy, the Buhari government has finally removed all that is left thereby increasing the fuel price by almost 100% per litre.

The new price increase introduced by President Buhari’s administration would make fuel (petrol) to be sold at stations for 145 naira per litre officially.

According to the statement issued by the Petroleum Resources Minister of State Emmanuel Kachikwu, “the main reason for the current problem is the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings of the federal government”.

For months vehicle drivers have been waiting for petrol in queues kilometres long, while others were forced to buy fuel on the black market, sometimes for triple the previous official price of 87 naira ($0.43) per litre.